Lloyds Bank issues urgent scam warning as Oasis fans lose £346 to fraudsters

enthusiasts have been left hundreds of pounds out of pocket to in a scramble for the highly-coveted concert tickets, customer data reveals.

Fans conned into purchasing fake tickets have suffered an average loss of £346, while some devotees were found to have lost up to £1,000.

According to Lloyds Bank, individuals aged 35 to 44 are the prime targets, accounting for nearly one-third (31%) of ticket fraud cases based on their analysis.

The bank looked at scam incidents involving its customers, including those using services from Lloyds and its partner brands Halifax and Bank of Scotland, where claims mentioned Oasis between August 27 and September 25.

Typical ticket frauds include fake adverts and listings on social media platforms, promising cut-price tickets or elusive access to sold-out events at hefty mark-ups.

Scammers ask for payment upfront for these non-existent tickets and disappear once they receive the money.

Lloyds' deep dive into customer complaints over a month pinpointed hundreds of fraudulent ticket claims, with approximately 70% relating to the Oasis concerts.

An astonishing 90% plus of these cases originated with bogus ads or social media posts, underlining the extent of online deception.

Liz Ziegler, fraud prevention exponent at Lloyds said: "Predictably fraudsters wasted no time in targeting loyal Oasis fans as they scrambled to pick up tickets for next year's must-see reunion tour. Buying directly from reputable, authorised retailers is the only way to guarantee you're paying for a genuine ticket.

"If you're asked to pay via bank transfer, particularly by a seller you've found on social media, that should immediately set alarm bells ringing."

Lloyds has sounded the alarm over ticket fraud, which typically spikes in two distinct periods when tickets first go on sale and in the lead-up to the actual event.

Mandatory scam reimbursement rules managed by the Payment Systems Regulator (PSR) were brought in last month, which are designed to protect individuals duped into making payments to scammers.

These new regulations mean banks are now compelled to reimburse victims of authorised push payment (APP) scams, except in cases where the customer demonstrated gross negligence.

A cap of £85,000 on the reimbursement sum has been instituted, though financial institutions can exceed this threshold and offer larger refunds.

Benefitting transfers within UK banks, the latest safeguards come into effect for transactions carried out from October 7 onwards, with no retroactive coverage.

This comes after previous measures which included a voluntary code for reimbursement, while some banks managed their own refunds.

Top tips to safely buy concert tickets

Lloyds Bank shared four tips to help customers steer clear of ticket scams.

• Stick to trusted retailers - Always purchase tickets from reputable, official ticket-selling (or reselling) platforms. Exercise caution when dealing with third-party sellers.

• Be cautious on social media - Remember that you can't always verify if a user profile or ticket listing is genuine. Fraudsters can easily create fake ads, even using images of real tickets.

• Avoid deals that look too good to be true - If a ticket is being sold at an unusually low price or for a sold-out event, it's a red flag. Always ask yourself if the deal seems realistic.

• Use a secure payment method - Pay with your debit or credit card, as this provides more protection for your money. PayPal is also a safer alternative compared to bank transfers.